Mexico regulators to vote on $1 billion fine vs tycoon Slim

MEXICO CITY (Reuters) - Regulators are due to vote on Monday on one of Mexico's biggest antitrust cases, a $1 billion fine for tycoon Carlos Slim, which has been bogged down in court appeals and disputes for a year. Federal competition commission Cofeco slapped Telcel, the cash cow of Slim's giant telecoms company America Movil, with the record sanction in April 2011 after ruling the company charged excessive prices to wireless and wireline competitors to connect to its network. ...

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Regulators are due to vote on Monday on one of Mexico's biggest antitrust cases, a $1 billion fine for tycoon Carlos Slim, which has been bogged down in court appeals and disputes for a year. Federal competition ...

MEXICO CITY (Reuters) - Regulators are due to vote on Monday on one of Mexico's biggest antitrust cases, a $1 billion fine for tycoon Carlos Slim, which has been bogged down in court appeals and disputes for a year.

America Movil SA de CV (ADR) (AMX) is expanding its portfolio of telecom assets by increasing its stake in Telekom Austria AD (ADS) (TKAGY) as the company complies with a regulatory ruling that seeks to reduce its market share at home.

In an unusually direct report, the U.S. government said that “enhancing competition in Mexico’s telecommunications sector continues to be a challenge.” The Office of the U.S. Trade Representative’s new 2013 National Trade Estimate Reports on Foreign Trade Barriers points out that telecom tycoon Carlos Slim’s America Movil (NYSE:AMX), the parent company of wireless carrier Telcel and wireline carrier Telmex, “dominates both the fixed and mobile segments of the Mexican telecommunications market .”